If the cost of a mobile phone is Rs. 25,000, available at Rs. 5,000 down payment followed by 3 equal annual instalments (each instalment is to be paid at the end of each year) at the rate 25% p.a. compound interest, then find the value of each instalment (rounded off to two decimal places):
A. Rs. 13,021
B. Rs. 17,361
C. Rs. 10,245.09
D. Rs. 10,245.90
Answer: Option D
This Question Belongs to Arithmetic Ability >> Compound Interest
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